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v3.20.2

SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2020
SECURITIES |
Summary of carrying balances of securities |
|  | June 30, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Debt securities available-for-sale |  | $ | 701,353 |  | $ | 592,404
Debt securities held-to-maturity |  |  | 73,823 |  |  | 88,477
Equity securities: |  |  |  |  |  |
Readily determinable fair value |  |  | 3,263 |  |  | 3,241
No readily determinable fair value |  |  | 1,552 |  |  | 1,148
Total securities |  | $ | 779,991 |  | $ | 685,270
Schedule of amortized cost and fair values of debt securities, with gross unrealized gains and losses. |
June 30, 2020 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 75,881 |  | $ | 3,061 |  | $ | (7) |  | $ | 78,935
Municipal |  |  | 191,453 |  |  | 6,885 |  |  | (28) |  |  | 198,310
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 211,577 |  |  | 5,393 |  |  | (101) |  |  | 216,869
Agency commercial |  |  | 133,149 |  |  | 5,022 |  |  | (22) |  |  | 138,149
Corporate |  |  | 67,204 |  |  | 1,962 |  |  | (76) |  |  | 69,090
Total available-for-sale |  |  | 679,264 |  |  | 22,323 |  |  | (234) |  |  | 701,353
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  |  | 28,528 |  |  | 1,507 |  |  | — |  |  | 30,035
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 16,516 |  |  | 567 |  |  | — |  |  | 17,083
Agency commercial |  |  | 28,779 |  |  | 2,420 |  |  | — |  |  | 31,199
Total held-to-maturity |  |  | 73,823 |  |  | 4,494 |  |  | — |  |  | 78,317
Total debt securities |  | $ | 753,087 |  | $ | 26,817 |  | $ | (234) |  | $ | 779,670
December 31, 2019 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 49,113 |  | $ | 529 |  | $ | (27) |  | $ | 49,615
Municipal |  |  | 131,241 |  |  | 2,503 |  |  | (6) |  |  | 133,738
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 198,184 |  |  | 2,780 |  |  | (286) |  |  | 200,678
Agency commercial |  |  | 133,730 |  |  | 1,516 |  |  | (292) |  |  | 134,954
Corporate |  |  | 72,239 |  |  | 1,180 |  |  | — |  |  | 73,419
Total available-for-sale |  |  | 584,507 |  |  | 8,508 |  |  | (611) |  |  | 592,404
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  |  | 45,239 |  |  | 1,340 |  |  | — |  |  | 46,579
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 19,072 |  |  | 161 |  |  | (170) |  |  | 19,063
Agency commercial |  |  | 24,166 |  |  | 775 |  |  | (54) |  |  | 24,887
Total held-to-maturity |  |  | 88,477 |  |  | 2,276 |  |  | (224) |  |  | 90,529
Total debt securities |  | $ | 672,984 |  | $ | 10,784 |  | $ | (835) |  | $ | 682,933
Schedule of amortized cost and fair value of securities by contractual maturity |
|  | Available-for-Sale |  | Held-to-Maturity
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
|  | (dollars in thousands)
Due in 1 year or less |  | $ | 32,518 |  | $ | 32,748 |  | $ | 748 |  | $ | 754
Due after 1 year through 5 years |  |  | 92,615 |  |  | 95,593 |  |  | 14,963 |  |  | 15,733
Due after 5 years through 10 years |  |  | 151,731 |  |  | 158,201 |  |  | 11,926 |  |  | 12,620
Due after 10 years |  |  | 57,674 |  |  | 59,793 |  |  | 891 |  |  | 928
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 211,577 |  |  | 216,869 |  |  | 16,516 |  |  | 17,083
Agency commercial |  |  | 133,149 |  |  | 138,149 |  |  | 28,779 |  |  | 31,199
Total |  | $ | 679,264 |  | $ | 701,353 |  | $ | 73,823 |  | $ | 78,317
Schedule of gains (losses) on securities |
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (dollars in thousands)
Net realized gains (losses) on sales |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Net unrealized gains (losses) on equities: |  |  |  |  |  |  |  |  |  |  |  |
Readily determinable fair value |  |  | 57 |  |  | 36 |  |  | 5 |  |  | 115
No readily determinable fair value |  |  | — |  |  | — |  |  | — |  |  | —
Gains (losses) on securities |  | $ | 57 |  | $ | 36 |  | $ | 5 |  | $ | 115
Schedule of gross unrealized losses and fair value of investments |
|  | Investments in a Continuous Unrealized Loss Position
|  | Less than 12 Months |  | 12 Months or More |  | Total
June 30, 2020 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | (7) |  | $ | 3,605 |  | $ | — |  | $ | — |  | $ | (7) |  | $ | 3,605
Municipal |  |  | (28) |  |  | 4,989 |  |  | — |  |  | — |  |  | (28) |  |  | 4,989
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (77) |  |  | 15,955 |  |  | (24) |  |  | 7,194 |  |  | (101) |  |  | 23,149
Agency commercial |  |  | — |  |  | — |  |  | (22) |  |  | 6,038 |  |  | (22) |  |  | 6,038
Corporate |  |  | (76) |  |  | 9,924 |  |  | — |  |  | — |  |  | (76) |  |  | 9,924
Total available-for-sale |  |  | (188) |  |  | 34,473 |  |  | (46) |  |  | 13,232 |  |  | (234) |  |  | 47,705
Total debt securities |  | $ | (188) |  | $ | 34,473 |  | $ | (46) |  | $ | 13,232 |  | $ | (234) |  | $ | 47,705
|  | Investments in a Continuous Unrealized Loss Position
|  | Less than 12 Months |  | 12 Months or More |  | Total
December 31, 2019 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | (26) |  | $ | 18,865 |  | $ | (1) |  | $ | 1,998 |  | $ | (27) |  | $ | 20,863
Municipal |  |  | (6) |  |  | 894 |  |  | — |  |  | — |  |  | (6) |  |  | 894
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (108) |  |  | 25,563 |  |  | (178) |  |  | 27,296 |  |  | (286) |  |  | 52,859
Agency commercial |  |  | (100) |  |  | 20,056 |  |  | (192) |  |  | 15,704 |  |  | (292) |  |  | 35,760
Total available-for-sale |  |  | (240) |  |  | 65,378 |  |  | (371) |  |  | 44,998 |  |  | (611) |  |  | 110,376
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (30) |  |  | 2,516 |  |  | (140) |  |  | 9,002 |  |  | (170) |  |  | 11,518
Agency commercial |  |  | (47) |  |  | 7,016 |  |  | (7) |  |  | 599 |  |  | (54) |  |  | 7,615
Total held-to-maturity |  |  | (77) |  |  | 9,532 |  |  | (147) |  |  | 9,601 |  |  | (224) |  |  | 19,133
Total debt securities |  | $ | (317) |  | $ | 74,910 |  | $ | (518) |  | $ | 54,599 |  | $ | (835) |  | $ | 129,509

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